World2Meet (W2M) closed 2024 with a turnover of 2,753 million euros, which represents an increase of 26.5% compared to the 2,175 million registered in 2023. The company thus managed to increase its profitability after reaching a Ebitda which will be between 17 and 20 million euros in the last financial year, leaving behind the break-even achieved in 2023. For Gabriel Subías, CEO of the corporation, These results “conclude the first phase” of the project started in 2020. By 2025, the company plans to continue improving its results, raising the Ebitda up to a range of 25-30 million euros, in addition to beginning its internationalization with the physical expansion of some of its brands throughout the United States and Mediterranean countries.
In terms of employment, W2M increased its workforce in 2024 to 3,166 workers10% more than the previous year, thanks to the incorporation of the responsive BD Experience, which added 150 vehicles to its operational fleet in Mexico and the Dominican Republic. The office network also grew to 32 branches in 16 countries, after the opening of new offices in Thailand and Egypt.
This was the first phase
The first stage of W2M has been marked by the consolidation of its structure and business modelaccording to Subías. During this period, the fundamental pillars of the group were designed, including its air operations with World2Fly, the W2M Next bed bank, and the accommodation and tour operation divisions.
In 2024, the airline carried 7.2 million passengers, with an average occupancy of 90%, still below the target of 94-95%. The World2Fly fleet will be reinforced in March 2025 with the addition of a new Airbus A330, which will allow it to expand routes to destinations such as Mauritius, La Romana, Cape Verde, Madeira and Jamaica.
In the tour operation segment, brands such as Icarion, Kannak and Newblue They expanded their offer with new exclusive programming in Asia, Africa and Latin America, as well as river circuits in Europe. BD Experience continued to consolidate its presence in the Caribbean, while E-North Safaris operated 25 flights to Lapland from five Spanish cities, a destination on the rise for the company. In the field of distribution, Azulmarino and Viajes Eroski formalized their integrationwith a focus on digital expansion and in key markets such as Madrid and Barcelona.
Subías highlighted that the first stage of the project laid the foundations to compete in the market with a diversified structure. “We have reached a reasonable balance that allows us to look forward without the need for major acquisitions or moves,” he concluded.
Future plans
With the idea of reach a turnover of 3,196 million euros in 2025W2M faces its second phase with the objective of achieving competitive scale in all its businesses. According to Subías, the group will seek to “ensure the scalability of each division”, prioritizing the selective internationalization of its B2B operations in markets such as the United States, America and the Mediterranean.
In the accommodation segment, W2M Next plans improvements in the offer of excursions, transfers and villas, as well as in its digital platform. For its part, W2M DMC will renew part of its fleet in Cancún and reinforce the geolocation systems in the Canary Islands and the Caribbean. In the air business, in addition to the consumption of SAF (sustainable fuel), flight frequencies from Spain to the Dominican Republic and the Riviera Maya will increase, reaching 11 and 9 weekly flights, respectively, when including routes from Portugal.
In the distribution space, W2M will continue to develop its Grand Azulmarino and The Sphere brands, while keeping small acquisition options open in the physical B2C market. However, it rules out significant operations in this segment, prioritizing a balanced approach.
The group maintains its intention to strengthen its international presence by opening offices in Jamaica and Mexico, in addition to explore new opportunities in B2B markets. Regarding the bed bank, which represents close to 1,300 million of the total turnover, a growth of 17% is expected in 2025.
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